ITWorld posted an excerpt from "The Economics of Cloud Computing: An Overview for Decision Makers" by Bill Williams, expected to be released this summer. He said it's important for businesses to first understand their own needs before making the move into cloud computing.

"To determine the best cloud offering for your business, it is important to understand (or at least have a good idea) of your compute, storage and networking requirements," Williams writes in the book. "It is helpful to know your budget and your total cost of ownership metrics as well. Cloud computing providers will work with you to help you scope your environments for the purposes of sizing and capacity planning. Most providers will even help you determine an estimated ROI for your migration to cloud."

Williams said that while it's important for businesses to understand infrastructure requirements before moving into the cloud, it's even more crucial to understand business processes and goals and the underlying application architecture.

Entrepreneur.com said companies also need to research cloud computing vendors, be aware of legal issues that could be encountered and consider backup options for the cloud.